Credit Suisse Auctions 5bn of Senior Bonds, just Days after Pleading Guilty in the US

Credit Suisse Auctions 5bn of Senior Bonds, just Days after Pleading Guilty in the US

The market reported that Credit Suisse sells senior bonds worth $5bn in the market, just days after pleading guilty of helping US tax payers commit tax fraud. The issuance was over subscribed.

According to information collected by the FT, ‘the Swiss bank sold three-year fixed-rate bonds for 60 basis points over US Treasuries and five-year fixed-rate bonds for 80 bps over, market participants said. A three-year floating-rate tranche sold for 49 bps over a three-month Libor equivalent’.

The rate was slightly higher than what Deutsche Bank received for their bonds a few days earlier.